Royal Bank of Canada Boosts Stake in Maxim Integrated Products Inc. (NASDAQ:MXIM)

Royal Bank of Canada grew its stake in Maxim Integrated Products Inc. (NASDAQ:MXIM) by 11.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 308,762 shares of the semiconductor company’s stock after buying an additional 31,308 shares during the period. Royal Bank of Canada owned 0.11% of Maxim Integrated Products worth $18,470,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MXIM. Invesco Ltd. raised its holdings in shares of Maxim Integrated Products by 183.1% in the second quarter. Invesco Ltd. now owns 12,048,685 shares of the semiconductor company’s stock worth $720,753,000 after buying an additional 7,793,251 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Maxim Integrated Products by 19,703.2% in the second quarter. Nuveen Asset Management LLC now owns 1,213,541 shares of the semiconductor company’s stock worth $72,593,000 after buying an additional 1,207,413 shares during the last quarter. FIL Ltd raised its holdings in shares of Maxim Integrated Products by 29.8% in the first quarter. FIL Ltd now owns 3,507,107 shares of the semiconductor company’s stock worth $186,472,000 after buying an additional 804,734 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Maxim Integrated Products by 36.9% during the first quarter. First Trust Advisors LP now owns 1,718,292 shares of the semiconductor company’s stock worth $91,362,000 after purchasing an additional 462,950 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. raised its holdings in shares of Maxim Integrated Products by 311.6% during the second quarter. NN Investment Partners Holdings N.V. now owns 514,154 shares of the semiconductor company’s stock worth $30,757,000 after purchasing an additional 389,252 shares during the last quarter. 92.34% of the stock is owned by institutional investors and hedge funds.

In related news, Director William D. Watkins sold 8,310 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $54.62, for a total transaction of $453,892.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert Edward Grady sold 6,575 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $52.63, for a total transaction of $346,042.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,568 shares of company stock worth $6,837,472. 0.85% of the stock is owned by company insiders.

Several research analysts recently issued reports on the stock. Maxim Group cut shares of Maxim Integrated Products from a “neutral” rating to an “underperform” rating in a report on Friday, September 27th. Cowen reissued a “market perform” rating and set a $57.00 target price (down previously from $63.00) on shares of Maxim Integrated Products in a report on Wednesday, July 31st. Zacks Investment Research cut shares of Maxim Integrated Products from a “hold” rating to a “sell” rating and set a $59.00 target price for the company. in a report on Thursday. Citigroup set a $62.00 target price on shares of Maxim Integrated Products and gave the stock a “hold” rating in a report on Wednesday, July 31st. Finally, Deutsche Bank set a $70.00 target price on shares of Maxim Integrated Products and gave the stock a “buy” rating in a report on Friday, July 26th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $60.33.

MXIM stock opened at $57.54 on Friday. The firm has a market cap of $15.60 billion, a PE ratio of 23.68, a P/E/G ratio of 2.22 and a beta of 1.40. The company has a debt-to-equity ratio of 0.54, a quick ratio of 6.18 and a current ratio of 6.84. The firm’s fifty day moving average is $56.09 and its 200 day moving average is $57.17. Maxim Integrated Products Inc. has a one year low of $46.64 and a one year high of $65.73.

Maxim Integrated Products (NASDAQ:MXIM) last released its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.57 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.57. The company had revenue of $557.00 million for the quarter, compared to analyst estimates of $559.97 million. Maxim Integrated Products had a net margin of 35.76% and a return on equity of 37.75%. The firm’s revenue was down 12.0% on a year-over-year basis. During the same quarter last year, the business earned $0.73 earnings per share. Research analysts predict that Maxim Integrated Products Inc. will post 2.2 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.34%. The ex-dividend date was Wednesday, August 28th. This is a positive change from Maxim Integrated Products’s previous quarterly dividend of $0.46. Maxim Integrated Products’s dividend payout ratio (DPR) is currently 79.01%.

Maxim Integrated Products Profile

Maxim Integrated Products, Inc designs, develops, manufactures, and markets a range of linear and mixed-signal integrated circuits in the United States, China, the rest of Asia, Europe, and internationally. The company also provides a range of high-frequency process technologies and capabilities for use in custom designs.

Further Reading: Outperform Rating

Institutional Ownership by Quarter for Maxim Integrated Products (NASDAQ:MXIM)

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